Riding on Double-digit Growth of Chinese EV Market
Market research firm SNE Research announced on Oct. 5 that the battery consumption of electric vehicles (EVs) registered in 76 countries around the world was 10.8 GWh in August this year, up 41.3 percent from a year ago. The battery usage increased for the second consecutive month.
The use of CATL batteries increased 18.3 percent year on year to 2.8 GWh and the Chinese company posted the highest market share of 26.1 percent. The Chinese EV market showed a double-digit growth in August this year.
LG Chem came in second with 2.4 GWh. The use of LG Chem batteries jumped 161.2 percent in one year with Tesla Model 3, Renault Zoe and Porsche Taycan EV gaining popularity. Panasonic took the third place with a 1 percent increase and 2.1 GWh as Tesla, its biggest client, increased its production volume in the United States. Samsung SDI came in fourth with a 68 percent increase and 0.6 GWh. BYD took the fifth spot and was followed by SK Innovation, which recorded an increase of 226.9 percent to 0.5 GWh.
The battery usage for the first eight months of this year is 64.7 GWh. It decreased 9.9 percent with the U.S. and Chinese electric vehicle markets shrinking in the wake of COVID-19.
In the eight-month period, the use of LG Chem batteries increased 106.8 percent year on year to 15.9 GWh, that of CATL batteries reached 15.5 GWh with a 20 percent year-on-year decrease and that of Panasonic batteries was 12.4 GWh, down 25.4 percent from a year earlier. Samsung SDI and SK Innovation increased theirs by 58.2 percent and 104.5 percent to 4.1 GWh and 2.7 GWh, respectively.
Samsung SDI climbed one notch to fourth and SK Innovation climbed three to sixth. The three South Korean companies more than doubled their combined market share from 16.2 percent to 35.1 percent. The top six companies’ market share was 84.1 percent, up 4.1 percentage points from a year ago.